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NEW YORK (
TheStreet) -- These stock market gains are totally legitimate, Jim Cramer told
"Mad Money" viewers Thursday as he sounded off against the bears that have been trying to scare individual investors out of the market.

Cramer explained that the prevailing wisdom among the bears is the
Federal Reserve, which has, in part, created the market's big surge higher with low interest rates, will soon pull the rug out from under the economy -- a move that would be so detrimental to stocks that individuals should just keep their money elsewhere.

But Cramer said that view is totally wrong. The Fed is not a helpless giant and has certainly planned ahead for its exit from the markets. He said it is true that low rates have helped companies refinance their debt, offer big dividends and snap up other companies through mergers and acquisitions. That doesn't mean that those same companies are not capable of standing on their own.

Sound investors sit on the sidelines because someday the party might end? Cramer said that view is dangerous and is keeping investors from making money they rightfully deserve. He said the bears never admit they're wrong, nor do they have any remorse for keeping investors out of of 1,000- or even 5,000-point rallies.

"The money is right there to be made," but only if investors ignore the naysayers and get in while the getting is good, said Cramer.

Executive Decision: S.A. Ibrahim

In the "Executive Decision" segment, Cramer spoke with S.A. Ibrahim, CEO of
Radian Group(RDN - Get Report), the mortgage insurer that has soared 31% since Cramer last recommended the stock less than a month ago.

When asked about the insatiable demand for his company's stock, Ibrahim said all the investors who were once betting on the housing market implosion are now repositioning themselves to take advantage of the recovery, which is now alive and well. He said low interest rates sparked a ton of refinancing business, but that business is now expanding into new home purchases.

First-time home buyers are usually the ones who need mortgage insurance the most because they usually have the lowest down payments, he said. But those buyers rarely buy a home if prices are falling. With prices now stabilized and on the rise, Radian is expecting a flood of first-time buyers to reenter the market.